CASHe records a 80% surge in loans taken post demonetization

CASHe has witnessed an impressive 80% growth in customer base during the month of November alone from customers across the countryETtech | Updated: December 05, 2016, 16:23 IST

CASHe, an app -only instant personal loan technology platform currently available on Google Play and funded by technology start-up TSLC Pte offers multiple witnessed a huge demand with customers seeking immediate monetary assistance during the demonetization drive launched by the government. CASHe has witnessed an impressive 80% growth in customer base during the month of November alone from customers across the country. The total loans disbursed during the month stood at over 10 crores.

This trend will continue in the future since all informal lending channels have dried up and the organised sector hitherto dominated by banks has not really altered its cumbersome processes of verification and approval. The mobile app offers instant short-term unsecured loans to help young salaried professionals to cater to their dynamic lifestyles. Within nine months of its operations in India, CASHe has successfully garnered over 60,000 customer base and over 90,000 app downloads on Google Play. With over 15,000 active customers, CASHe has disbursed over 30 Crores of loans to young urban professionals PAN-India

Through its user-friendly digital interface, CASHe enables faster loan application and quicker loan disbursal. This is bolstered by the proprietary technology algorithm called the Social Loan Quotient (SLQ).

Raman Kumar, Founder, CASHe states, “Keeping the requirements of our target audience in mind, we are smart, digital, instant and intelligent in our approach to lending to the young urban professionals. We are the first and the only company that has developed an app that truly caters to a generation that believes in availing services and products at the click of a button. The digital footprint leaves traces of the diverse facets of an individual’s persona, which if harnessed correctly provide a more realistic picture of his trust worthiness than mere financial records. To meet the challenge of this transformation, our research scientists have developed Social Loan Quotient (SLQ), our very own advanced ranking engine based on Artificial Intelligence.”